key reversal right now.........as we made a new high for move.........new high for the contract and look like we are going to close lower................so not good technically

plus we have an outside bearish day going........took out yesterday's highs and lows............trading lower presently

so yes i think we have seen our top........at least short term............longer term if we break prices demand could step back up and the fact is the weather isn't going to allow our crop to get any bigger.............this report was based on July 1st and our crop is smaller today then it was then


 

the day of or the day after USDA reports has been pretty good hitting tops and bottom's over the past couple of years

june 30th 2010; low made
june 9th 2011 high made
june 30th / july 1st low made
sept 30 oct 4th low made
jan 12th few days after low made
may 10th/11th low made